(November 24 – 16:50 ET) – C.I. Funds says it has received unitholder approval for the merger of three funds.

Following votes held today in Toronto, BPI Canadian Resource Fund Inc. will merge into Signature Canadian Resource Fund; C.I. Canadian Equity Value Fund will merge into Signature Canadian Fund, and Signature Corporate Bond Fund will merge into Signature High Income Fund.

C.I. says moves will reduce duplication in its fund lineup while benefiting unitholders by creating larger funds that are more efficient.

The mergers, which are scheduled to take place after the close of business on December 1, will be effected on a tax-free, rollover basis. Unitholders of each terminating fund will exchange their securities for Class A units of the continuing fund on a dollar-for-dollar basis. Automatic purchase plans and systematic redemption plans with each terminating fund will be re-established with the respective continuing fund.
-IE Staff